The Gujarat Police estimate that Narayan Sai, son of jailed godman Asaram, has properties and investments worth more than Rs 5,000 crore.
Sai was arrested by the Delhi Police in December last year in connection with a sexual assault case. He was later sent to Surat (in Gujarat), where the case was lodged.
Surat police commissioner Rakesh Asthana said Sai and his associates operated as many as 800 bank accounts across the country and also have assets alongside financial instruments.
According to the police, 22 close aides of Sai hold the bank accounts.
"We have seized papers and documents during raids in more than 10 districts and 45 places in Gujarat, and 33 places outside Gujarat.
"We studied and analysed those documents, and arrived at this primary assessment (on Sai’s property)," Asthana said.
According to him, the police will rope in the income tax department in the investigation, while the revenue department will be asked to determine the value of vast tracts of lands and ashrams in possession of Sai and Asaram.
The police had conducted a series of raids during Sai's 58-day run before the arrest. They seized 42 bags of documents related to financial dealings, property and other investments.
The police estimate the collective worth of Sai's property and investments may touch the Rs 5,000-crore mark.
Asthana added the documents revealed that Sai had also made investments of Rs 200 crore abroad.
"The revenue authorities have been asked to scrutinise land-related documents," he said.
Asaram and Sai are in a tight spot after two Surat-based sisters accused them of sexual abuse.
The godman was arrested on September 1 last year on charges of raping the elder sister in his ashram near Jodhpur, Rajasthan. The younger sister has accused Sai of molestation.